Posted at 10:45 a.m., Tuesday, June 5, 2001

Bank of Hawaii likely to fire 10

Advertiser Staff

Bank of Hawaii expects its plan to sell or close all its operations outside the state to cost about 10 local employees their jobs over the next year.

The reorganization plan announced last month is expected to eliminate about 1,000 jobs companywide. The bank has written the state Department of Labor & Industrial Relations that the reduction will affect 40 positions in Hawai'i; about 10 of those will be layoffs.

The restructuring, begun last month and running through 2003, involves selling the bank's California subsidiary, Pacific Century Bank; dozens of South Pacific branches in French Polynesia, New Caledonia, Papua New Guinea, the Solomon Islands, Vanuatu and Fiji; and five branches and three offices in Asia outside Japan.